First Drill Hole at Chancho al Palo Hits 713m with Visible Gold and Chalcopyrite
Solis Minerals has intersected promising copper-gold mineralisation including visible gold at its Chancho al Palo prospect in Peru, with assays expected in July/August 2025. The initial drill hole confirms the presence of both IOCG and porphyry-style systems in a highly prospective region.
- First diamond drill hole reached 713 metres depth
- Visible chalcopyrite and gold intersected in multiple zones
- Mineralisation includes fault-bounded IOCG and porphyry styles
- Assay results from ALS Global expected in July/August 2025
- Second drill hole planned 200 metres west to refine target understanding
Early Drilling Success at Chancho al Palo
Solis Minerals Limited has reported encouraging results from its maiden diamond drilling campaign at the 100% owned Chancho al Palo prospect, located in Peru’s prolific Coastal Copper Belt. The first drill hole, completed to a depth of 713 metres, intersected multiple zones of copper-gold mineralisation, including visible chalcopyrite and notably, visible gold at around 620 metres depth. This early discovery marks a significant milestone for the company, which is exploring an area previously untouched by drilling.
Geological Context and Mineralisation Styles
The drilling has revealed a complex mineralised system featuring both iron oxide copper-gold (IOCG) and porphyry-style mineralisation. Initial intersections include fault-bounded IOCG breccias with chalcopyrite from 184 metres, transitioning to porphyry-style mineralisation with chalcopyrite from 451 metres. The presence of visible gold within feldspathic alteration zones adds a compelling dimension to the prospect’s potential. These findings align well with the geophysical and geochemical anomalies that guided the drill targeting, validating the company’s exploration strategy.
Strategic Location and Infrastructure Advantages
Chancho al Palo is strategically situated approximately nine kilometres from the Peruvian coast, near major copper operations such as Anglo American’s Quellaveco and Southern Copper Corporation’s Toquepala mines. The proximity to established infrastructure, including Southern Copper’s refinery and smelter, enhances the project’s logistical appeal and potential economic viability. Solis Minerals’ positioning in this well-endowed copper belt underscores the significance of these early drilling results.
Next Steps and Market Implications
The company plans to commence a second drill hole approximately 200 metres west of the initial site to further delineate the mineralised system and better understand its architecture. The total planned drilling program at Chancho al Palo is 2,500 metres, expected to include four to five holes. Assay results from ALS Global are anticipated in July or August 2025, which will provide critical data to assess the grade and economic potential of the mineralisation. Following completion, the drill rig will be mobilised to Solis Minerals’ Ilo Este project, continuing the company’s aggressive exploration campaign in Peru.
Expert Commentary
CEO Mitch Thomas expressed optimism about the early signs of mineralisation, highlighting the importance of visible chalcopyrite and gold as indicators of a robust copper-gold system. Technical Director Michael Parker, a qualified geologist, has overseen the drilling and sampling protocols, ensuring industry-standard practices are followed. The combination of geological, geochemical, and geophysical data positions Solis Minerals well to advance Chancho al Palo toward a potential resource definition phase.
Bottom Line?
As assay results loom, Solis Minerals’ Chancho al Palo could emerge as a key copper-gold asset in Peru’s competitive mining landscape.
Questions in the middle?
- What grades will the upcoming assay results confirm for copper and gold?
- How will the second drill hole refine the geological model and resource potential?
- What are the implications for Solis Minerals’ broader South American copper portfolio?